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A31026 | Pages: 131 | Charts: 43 | Tables: 64 |
The Saudi Arabia microfinance market size was valued at $0.68 billion in 2021, and is projected to reach $1.68 billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031.
Microfinance is a type of financial service that is provided to unemployed or low-income individuals or groups with no other access to financial services. The aim of these institutions is the simple service of offering micro-loans to the world’s unbanked populations, such as savings, insurance, and payment products. The services in the market are designed to become affordable to poor and socially marginalized customers, households with a wide variety of high-quality financial products and services, and to help them become self-sufficient.
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The major Saudi Arabia microfinance market growth include rise in adoption of microfinance in developing nations for improving lifestyle and lesser operating & low market risk of micro lending significantly boost the growth of the global Saudi Arabia microfinance market. In addition, rise in the potential of entrepreneurs, to bring in more businesses and to start from zero level with less capital support positively impacts the growth of the Saudi Arabia microfinance market. However, small loan amount and shorter repayment time for paying loans are expected to hamper the Saudi Arabia microfinance market growth. On the contrary, with an increased adoption of advance technology in microfinancing, microfinance platform help reduce the operational costs by decreasing the cost of physical branches, staffing, and maintenance of branches, thus expected to provide lucrative opportunities for the Saudi Arabia microfinance industry in the upcoming years.
Depending on end-user, the small enterprises segment dominated the Saudi Arabia microfinance market size in 2021, and is expected to continue this trend during the forecast period, as it helps small size business users to easily manage their business operations and funding it enables effective planning and management of the inflow & outflow of monetary funds, thereby driving the adoption of microfinance services in this segment. However, the solo entrepreneurs & self-employed segment is expected to witness the highest growth in the upcoming years, owing to the increase in internet penetration and the use of the internet for day-to-day activities.
The report focuses on growth prospects, restraints, and analysis of the Saudi Arabia Microfinance market. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Saudi Arabia microfinance market share.
The microfinance market is segmented into the provider, end-user and region. Providers covered in the study include banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), and others. By end-user, the market is segregated into small enterprises, micro-enterprises, and solo entrepreneurs or self-employed.
The Saudi Arabia microfinance market growth is dominated by key players such as Alinma bank, Al Rajhi bank, ANB, Bank Albilad, Banque Saudi Fransi, Gojo & Company, Inc., Kiva, Riyad Bank, SABB, Saudi Arabia, SNB. These players have adopted various strategies to increase their market penetration and strengthen their position in the Saudi Arabia microfinance industry.
The COVID-19 outbreak has had a moderate impact on the growth of the microfinance market as the outbreak of the COVID-19 pandemic has enabled lending activities including past-due or non-collectible loans to become an implicit part of the financial sector. Hence, the need to implement new software for debt management in microfinance institutions (MFIs) has increased considerably.
Furthermore, various microfinance institutes in Saudi Arabia were stopped by the government owing to the growing number of COVID patients. In addition, various other digital platforms were adopted by microfinance companies to sell their products and attract their customers, which negatively impacts the growth of the Saudi Arabia microfinance market opportunities. Moreover, the COVID-19 pandemic has caused numerous challenges for the microfinance market players and microfinance institutes, which include difficulties in disbursements, collection of reimbursements and meeting with clients face-to-face, and reorganizing internal systems and the flow of work.
Thus, all these factors have a huge impact on Saudi Arabia microfinance Industry. In addition, microfinance providers are expected to face a serious liquidity crunch during COVID-19, the gap between revenue and operational expenditures is increasing with depleting reserves. This shrinking liquidity may not create a problem for large MFIs or those with strong stable backups but is sufficient to haunt small and mid-size MFIs.
Microfinance is changing the lifestyle of various people in developing countries such as Saudi Arabia by helping them financially. In addition, the surge in government initiatives for microfinance such as the Deferred Payments Program, a Guaranteed Facility Program, a Loan Guarantee Program, and a Point of Sales and E-Commerce Service Fee Support Program helps to mitigate the impacts of the precautionary measures on the micro, small, and medium enterprise sector by reducing the burden generated from cash flow fluctuations, backing up the sector’s working capital process, and enabling and maintaining its growth and level of employment. This supports the banking system and increases its adoption of microfinance services in this country and is driving the growth of the microfinance market. Furthermore, people in rural areas are taking loans from microlenders for setting up their own businesses and raising their standard of living, which propels the growth of the Saudi Arabia microfinance market.
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With the increase in penetration of smartphones and internet users across Saudi Arabia, online financing has witnessed significant growth in recent years. Microfinance is considered one of the convenient and widely used options for lenders, as it provides instant affordability for applications. Multiple businesses and individuals have started filling out applications online for taking loans in recent years rather than getting into the time-consuming lending process. According to a report by industry bodies MFIN and KPMG, the entry of new-age Fintech (Financial Technology) has enabled the microfinance sector to fast-track its transition to a more efficient digital model to serve a larger population at lower costs. In addition, the ease of applying for loans for borrowers and numerous other benefits for lenders, such as automated loan management, and rapid approval are shifting their attention toward digital microfinance, thus driving the Saudi Arabia microfinance market growth.
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Key Market Segments
CHAPTER 1:INTRODUCTION
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key forces shaping Saudi Arabia microfinance market
3.3.Market dynamics
3.3.1.Drivers
3.3.1.1.Increase in adoption of microfinance in developing nations for improving lifestyle
3.3.1.2.Shift from traditional lending to microfinance
3.3.1.3.Lesser operating cost and low market risk
3.3.2.Restraint
3.3.2.1.High interest on small amounts and shorter repayment time provided by microfinance
3.3.3.Opportunity
3.3.3.1.Adoption of advanced technology in microfinancing
3.4.COVID-19 impact analysis on Saudi Arabia Microfinance market
3.4.1.Impact on microfinance market size
3.4.2.Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.4.3.Framework for market challenges faced by microfinance providers
3.4.4.Economic impact on microfinance providers
3.4.5.Key player strategies to tackle negative impact on the industry
3.4.6.Opportunity analysis for microfinance providers
CHAPTER 4:SAUDI ARABIA MICROFINANCE MARKET, BY PROVIDER
4.1.Overview
4.2.Banks
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast
4.3.Micro Finance Institute (MFI)
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast
4.4.Non-Banking Financial Institutions (NBFC)
4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast
4.5.Others
4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast
CHAPTER 5:SAUDI ARABIA MICROFINANCE MARKET, BY END USER
5.1.Overview
5.2.Small Enterprises
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast
5.3.Micro Enterprises
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast
5.4.Solo entrepreneurs or Self-Employed
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast
CHAPTER 6:COMPETITIVE LANDSCAPE
6.1.Introduction
6.1.1.Market player positioning, 2021
6.2.Competitive dashboard
6.2.1.Top winning strategies
CHAPTER 7:COMPANY PROFILES
7.1.ALINMA BANK
7.1.1.Company overview
7.1.2.Key executives
7.1.3.Company snapshot
7.1.4.Operating business segments
7.1.5.Product portfolio
7.1.6.Business performance
7.1.7.Key strategic moves and developments
7.2.AL RAJHI BANK
7.2.1.Company overview
7.2.2.Key executives
7.2.3.Company snapshot
7.2.4.Operating business segments
7.2.5.Product portfolio
7.2.6.Business performance
7.2.7.Key strategic moves and developments
7.3.ANB
7.3.1.Company overview
7.3.2.Key executives
7.3.3.Company snapshot
7.3.4.Operating business segments
7.3.5.Product portfolio
7.3.6.Business performance
7.3.7.Key strategic moves and developments
7.4.BANK ALBILAD
7.4.1.Company overview
7.4.2.Key executives
7.4.3.Company snapshot
7.4.4.Operating business segments
7.4.5.Product portfolio
7.4.6.Business performance
7.4.7.Key strategic moves and developments
7.5.BANQUE SAUDI FRANSI
7.5.1.Company overview
7.5.2.Key executives
7.5.3.Company snapshot
7.5.4.Operating business segments
7.5.5.Product portfolio
7.5.6.Business performance
7.5.7.Key strategic moves and developments
7.6.GOJO & COMPANY, INC.
7.6.1.Company overview
7.6.2.Key executives
7.6.3.Company snapshot
7.6.4.Product portfolio
7.6.5.Key strategic moves and developments
7.7.KIVA
7.7.1.Company overview
7.7.2.Key executives
7.7.3.Company snapshot
7.7.4.Product portfolio
7.8.RIYAD BANK
7.8.1.Company overview
7.8.2.Key executives
7.8.3.Company snapshot
7.8.4.Operating business segments
7.8.5.Product portfolio
7.8.6.Business performance
7.8.7.Key strategic moves and developments
7.9.SABB, SAUDI ARABIA
7.9.1.Company overview
7.9.2.Key executives
7.9.3.Company snapshot
7.9.4.Operating business segments
7.9.5.Product portfolio
7.9.6.Business performance
7.9.7.Key strategic moves and developments
7.10.SNB
7.10.1.Company overview
7.10.2.Key executives
7.10.3.Company snapshot
7.10.4.Operating business segments
7.10.5.Product portfolio
7.10.6.Business performance
7.10.7.Key strategic moves and developments
LIST OF TABLES
TABLE 01.SAUDI ARABIA MICROFINANCE MARKET REVENUE, BY PROVIDER, 2021–2031 ($MILLION)
TABLE 02.SAUDI ARABIA MICROFINANCE MARKET FOR BANKS, 2021–2031 ($MILLION)
TABLE 03.SAUDI ARABIA MICROFINANCE MARKET FOR MICRO FINANCE INSTITUTE (MFI), 2021–2031 ($MILLION)
TABLE 04.SAUDI ARABIA MICROFINANCE MARKET FOR NON-BANKING FINANCIAL INSTITUTIONS (NBFC), 2021–2031 ($MILLION)
TABLE 05.SAUDI ARABIA MICROFINANCE MARKET FOR OTHERS, 2021–2031 ($MILLION)
TABLE 06.SAUDI ARABIA MICROFINANCE MARKET REVENUE, BY END USER, 2021–2031 ($MILLION)
TABLE 07.SAUDI ARABIA MICROFINANCE MARKET FOR SMALL ENTERPRISES, 2021–2031 ($MILLION)
TABLE 08.SAUDI ARABIA MICROFINANCE MARKET FOR MICRO ENTERPRISES, 2021–2031 ($MILLION)
TABLE 09.SAUDI ARABIA MICROFINANCE MARKET FOR SOLO ENTREPRENEURS OR SELF-EMPLOYED, 2021–2031 ($MILLION)
TABLE 10.ALINMA BANK: KEY EXECUTIVES
TABLE 11.ALINMA BANK: COMPANY SNAPSHOT
TABLE 12.ALINMA BANK: OPERATING BUSINESS SEGMENTS
TABLE 13.ALINMA BANK: PRODUCT PORTFOLIO
TABLE 14.ALINMA BANK: NET REVENUE, 2019-2021 ($MILLION)
TABLE 15.ALINMA BANK: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 16.AL RAJHI BANK: KEY EXECUTIVES
TABLE 17.AL RAJHI BANK: COMPANY SNAPSHOT
TABLE 18.AL RAJHI BANK: OPERATING BUSINESS SEGMENTS
TABLE 19.AL RAJHI BANK: PRODUCT PORTFOLIO
TABLE 20.AL RAJHI BANK: OPERATING INCOME, 2019-2021 ($MILLION)
TABLE 21.AL RAJHI BANK: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 22.ANB: KEY EXECUTIVES
TABLE 23.ANB: COMPANY SNAPSHOT
TABLE 24.ANB: OPERATING BUSINESS SEGMENTS
TABLE 25.ANB: PRODUCT PORTFOLIO
TABLE 26.ANB: NET REVENUE, 2019-2021 ($MILLION)
TABLE 27.ANB: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 28.BANK ALBILAD: KEY EXECUTIVES
TABLE 29.BANK ALBILAD: COMPANY SNAPSHOT
TABLE 30.BANK ALBILAD: OPERATING BUSINESS SEGMENTS
TABLE 31.BANK ALBILAD: PRODUCT PORTFOLIO
TABLE 32.BANK ALBILAD: OPERATING INCOME, 2019-2021 ($MILLION)
TABLE 33.BANK ALBILAD: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 34.BANQUE SAUDI FRANSI: KEY EXECUTIVES
TABLE 35.BANQUE SAUDI FRANSI: COMPANY SNAPSHOT
TABLE 36.BANQUE SAUDI FRANSI: OPERATING BUSINESS SEGMENTS
TABLE 37.BANQUE SAUDI FRANSI: PRODUCT PORTFOLIO
TABLE 38.BANQUE SAUDI FRANSI: OPERATING INCOME, 2018-2020 ($MILLION)
TABLE 39.BANQUE SAUDI FRANSI: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 40.GOJO & COMPANY, INC.: KEY EXECUTIVES
TABLE 41.BANK ALBILAD: COMPANY SNAPSHOT
TABLE 42.GOJO & COMPANY, INC.: PRODUCT PORTFOLIO
TABLE 43.GOJO & COMPANY, INC.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 44.KIVA: KEY EXECUTIVES
TABLE 45.BANK ALBILAD: COMPANY SNAPSHOT
TABLE 46.KIVA: PRODUCT PORTFOLIO
TABLE 47.RIYAD BANK: KEY EXECUTIVES
TABLE 48.RIYAD BANK: COMPANY SNAPSHOT
TABLE 49.RIYAD BANK: OPERATING BUSINESS SEGMENTS
TABLE 50.RIYAD BANK: PRODUCT PORTFOLIO
TABLE 51.RIYAD BANK: OPERATING INCOME, 2019-2021 ($MILLION)
TABLE 52.RIYAD BANK: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 53.SABB, SAUDI ARABIA: KEY EXECUTIVES
TABLE 54.SABB, SAUDI ARABIA: COMPANY SNAPSHOT
TABLE 55.SABB, SAUDI ARABIA: OPERATING BUSINESS SEGMENTS
TABLE 56.SABB, SAUDI ARABIA: PRODUCT PORTFOLIO
TABLE 57.SABB, SAUDI ARABIA: OPERATING INCOME, 2019-2021 ($MILLION)
TABLE 58.SABB, SAUDI ARABIA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 59.SNB: KEY EXECUTIVES
TABLE 60.SNB: COMPANY SNAPSHOT
TABLE 61.SNB: OPERATING BUSINESS SEGMENTS
TABLE 62.SNB: PRODUCT PORTFOLIO
TABLE 63.SNB: OPERATING INCOME, 2019-2021 ($MILLION)
TABLE 64.SNB: KEY STRATEGIC MOVES AND DEVELOPMENTS
LIST OF FIGURES
FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.SAUDI ARABIA MICROFINANCE MARKET SNAPSHOT, BY SEGMENTATION, 2021–2031
FIGURE 03.SAUDI ARABIA MICROFINANCE MARKET: TOP IMPACTING FACTOR
FIGURE 04.TOP INVESTMENT POCKETS
FIGURE 05.MODERATE TO HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 06.LOW TO HIGH BARGAINING POWER OF BUYER
FIGURE 07.LOW TO HIGH THREAT OF SUBSTITUTES
FIGURE 08.MODERATELY HIGH THREAT OF NEW ENTRANTS
FIGURE 09.MODERATELY COMPETITIVE RIVALRY
FIGURE 10.MARKET DYNAMICS: SAUDI ARABIA MICROFINANCE MARKET
FIGURE 11.SAUDI ARABIA MICROFINANCE MARKET, BY PROVIDER, 2021–2031 ($MILLION)
FIGURE 12.SAUDI ARABIA MICROFINANCE MARKET, BY END USER, 2021–2031 ($MILLION)
FIGURE 13.MARKET PLAYER POSITIONING, 2021
FIGURE 14.COMPETITIVE DASHBOARD
FIGURE 15.COMPETITIVE DASHBOARD
FIGURE 16.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 17.TOP WINNING STRATEGIES, BY YEAR, 2020–2022
FIGURE 18.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2020–2022
FIGURE 19.TOP WINNING STRATEGIES, BY COMPANY, 2020–2022
FIGURE 20.ALINMA BANK: NET REVENUE, 2019-2021 ($MILLION)
FIGURE 21.ALINMA BANK: REVENUE SHARE BY SEGMENT, 2021(%)
FIGURE 22.ALINMA BANK: REVENUE SHARE BY REGION, 2021(%)
FIGURE 23.AL RAJHI BANK: OPERATING INCOME, 2019-2021 ($MILLION)
FIGURE 24.AL RAJHI BANK: REVENUE SHARE BY SEGMENT, 2021(%)
FIGURE 25.AL RAJHI BANK: REVENUE SHARE BY REGION, 2021(%)
FIGURE 26.ANB: OPERATING INCOME, 2019-2021 ($MILLION)
FIGURE 27.ANB: REVENUE SHARE BY SEGMENT, 2021(%)
FIGURE 28.ANB: REVENUE SHARE BY REGION, 2021(%)
FIGURE 29.BANK ALBILAD: OPERATING INCOME, 2019-2021 ($MILLION)
FIGURE 30.BANK ALBILAD: REVENUE SHARE BY SEGMENT, 2021(%)
FIGURE 31.BANK ALBILAD: REVENUE SHARE BY REGION, 2021(%)
FIGURE 32.BANQUE SAUDI FRANSI: OPERATING INCOME, 2018-2020 ($MILLION)
FIGURE 33.BANQUE SAUDI FRANSI: REVENUE SHARE BY SEGMENT, 2020(%)
FIGURE 34.BANQUE SAUDI FRANSI: REVENUE SHARE BY REGION, 2020(%)
FIGURE 35.RIYAD BANK: OPERATING INCOME, 2019-2021 ($MILLION)
FIGURE 36.RIYAD BANK: REVENUE SHARE BY SEGMENT, 2021(%)
FIGURE 37.RIYAD BANK: REVENUE SHARE BY REGION, 2021(%)
FIGURE 38.SABB, SAUDI ARABIA: OPERATING INCOME, 2019-2021 ($MILLION)
FIGURE 39.SABB, SAUDI ARABIA: REVENUE SHARE BY SEGMENT, 2021(%)
FIGURE 40.SABB, SAUDI ARABIA: REVENUE SHARE BY REGION, 2021(%)
FIGURE 41.SNB: OPERATING INCOME, 2019-2021 ($MILLION)
FIGURE 42.SNB: REVENUE SHARE BY SEGMENT, 2021(%)
FIGURE 43.SNB: REVENUE SHARE BY REGION, 2021(%)